The Delhi government on May 22 pulled up the private power distribution companies and asked them to improve power supply urgently as several areas across the city were reeling under severe power cuts in sweltering heat. The Delhi Power Department said the city has more power than the current demand and blamed the long outages on local faults and other technical problems in the distribution network.
Category: Power & New and Renewable Energy
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Esssar Energy Holdings to exercise call option
In a move to consolidate non-public holdings of Essar Oil, Essar Energy Holdings, Mauritius exercised the call option to buy 32.95 million shares or 2.41 percent stake in the former from UK's Imperial Consultants and Securities. It may be recalled that on April 6, 2010, Essar Energy entered into an agreement with Essar Investment for the call option. Later, Essar Investment demerged its inves
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Chinese bank to lend Essar Energy in return for fuel
China Development Bank (CDB) agreed to lend $1 billion to Essar Energy in return for export of high-end Euro 5 grade gasoline and other petroleum products from the latter's Vadinar refinery to PetroChina. PetroChina is the listed arm of China National Petroleum (CNPC), the nation's largest oil company by production
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GVK Power has Rs 160 bn debt
GVK Power and Infrastructure sits on a total consolidated debt of Rs 16,000 crore, according to the earnings results released by the company. Although this is lower than the debt level of some other companies in the infrastructure sector, interest cost on the debt is a huge drag on the firm's balance sheet. GMR Infrastructure, which is a peer company of GVK,
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Govt to include panel suggestions for future JNNSM projects
Union ministry for New and Renewable Energy said it incorporated the suggestions given by an inter-ministerial committee to strengthen guidelines for selecting EPC contractors for projects under the Jawaharlal Nehru National Solar Mission (JNNSM). Following allegation of irregularities in implementing projects under JNNSM, the ministry set up the inter-minis
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Govt proposes separate power supplier, network provider
The Union Power Ministry is likely to float a discussion paper soon on a new business model where the power supplier and the electricity distribution network provider will be separate entities. The idea of segregating supplier and the entity that manages the power distribution network is primarily aimed at reducing losses of discoms and improve overall efficiency. The discussion paper on having "separate carriage and content (electricity)" model for the power sector is likely to be floated by en
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Govt to rope in firm for sampling imported coal
Unconfirmed reports indicate that the union government plans to invite bids from companies for monitoring quality of coal imported by domestic power plants. It may be recalled that domestic power plants complain about the poor quality of coal being imported from abroad as it leads to rise in carbon emission and also
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Lack of infrastructure prevents IOC from investing in Canada
AMK Sinha, the director of planning and business development at Indian Oil Corp (IOC) informed reporters that lack of pipeline infrastructure in Canada is hindering the firm's investment plan in the country. Although the firm intends to invest in CanadaÂ’s energy sector to gain access to crude and natural gas exports, lack of infrastructure makes it very difficult, Sinh
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Power biz, toll roads help R Infra to gain Rs 726 cr net
For Reliance Infrastructure, higher volumes and tariff growth in its electricity business, besides eight of its toll roads generating revenues helped to post a 76 per cent rise in net profit at Rs 726 crore (Rs 411 crore) for the quarter ended March 31, 2013. However, revenues were down to Rs 6,187 crore (Rs 7,135 crore).
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Power biz, toll roads help R Infra to gain Rs 726 cr net
For Reliance Infrastructure, higher volumes and tariff growth in its electricity business, besides eight of its toll roads generating revenues helped to post a 76 per cent rise in net profit at Rs 726 crore (Rs 411 crore) for the quarter ended March 31, 2013. However, revenues were down to Rs 6,187 crore (Rs 7,135 crore).